MATAL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
MATAL
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€81,239
2024 · €59,034+€22,205
Equity
€1.5m
2024 · €1.4m+€81,239
Cash
€87,034
2024 · €86,881+€152
Balance sheet total
€3.5m
2024 · €3.3m+€241,928
Largest movements
Assets
- Receivables within one year +€213,391
up €213,391 (+1,080%), from €19,758 to €233,149
of which Other amounts receivable: +€209,548
Equity and liabilities
- Other debts +€161,780
up €161,780 (+1,342%), from €12,058 to €173,838
- Profit (loss) carried forward +€81,239
up €81,239, from -€68,579 to €12,661
Income statement
- Gross operating margin +€24,958
up €24,958 (+16.0%), from €155,720 to €180,678
- Financial income -€5,583
down €5,583 (-37.7%), from €14,826 to €9,242
- Financial charges -€4,594
down €4,594 (-19.3%), from €23,747 to €19,152
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€59,034
Gross operating margin
+€24,958
Depreciation
-€115
Other operating charges
-€1,635
Financial income
-€5,583
Financial charges
+€4,594
Taxes
-€13
Result 2025
€81,239
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€91,131
Investment
-€93,672
Financing
+€2,693
Cash 2024
€86,881
From operations (derived)
+€91,131
Net result for the year
+€81,239
Depreciation
+€60,343
Stocks and contracts
-€817
Receivables within one year
-€213,391
Deferred charges and accrued income
+€5,761
Trade debts
-€6,692
Tax, wage and social debts
+€1,396
Other debts
+€161,780
Accrued charges and deferred income
+€1,512
Investment (derived)
-€93,672
Investment in fixed assets (net)
-€93,672
Financing
+€2,693
Debts after one year
-€9,788
Current portion of long-term debt
+€12,481
Cash 2025
€87,034
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,252,917 | €3,494,845 | +€241,928 | +7.4% |
| Fixed assets | 21/28 | €3,117,854 | €3,151,184 | +€33,329 | +1.1% |
| Tangible fixed assets | 22/27 | €1,504,101 | €1,523,046 | +€18,944 | +1.3% |
| Land and buildings | 22 | €1,495,436 | €1,450,743 | -€44,693 | -3.0% |
| Plant, machinery and equipment | 23 | €6,486 | €5,588 | -€898 | -13.9% |
| Furniture and vehicles | 24 | €2,179 | €3,986 | +€1,807 | +82.9% |
| Leasing and similar rights | 25 | - | €62,729 | +€62,729 | |
| Financial fixed assets | 28 | €1,613,753 | €1,628,138 | +€14,385 | +0.9% |
| Current assets | 29/58 | €135,063 | €343,662 | +€208,599 | +154% |
| Stocks and contracts in progress | 3 | €12,608 | €13,425 | +€817 | +6.5% |
| Stocks | 30/36 | €12,608 | €13,425 | +€817 | +6.5% |
| Amounts receivable within one year | 40/41 | €19,758 | €233,149 | +€213,391 | +1,080% |
| Trade receivables | 40 | €19,596 | €23,439 | +€3,843 | +19.6% |
| Other amounts receivable | 41 | €162 | €209,709 | +€209,548 | +129,655% |
| Cash at bank and in hand | 54/58 | €86,881 | €87,034 | +€152 | +0.2% |
| Deferred charges and accrued income | 490/1 | €15,815 | €10,054 | -€5,761 | -36.4% |
| Total equity and liabilities | 10/49 | €3,252,917 | €3,494,845 | +€241,928 | +7.4% |
| Equity | 10/15 | €1,411,258 | €1,492,497 | +€81,239 | +5.8% |
| Contributions | 10/11 | €1,477,977 | €1,477,977 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,579 | €12,661 | +€81,239 | |
| Amounts payable | 17/49 | €1,841,659 | €2,002,348 | +€160,689 | +8.7% |
| Amounts payable after more than one year | 17 | €1,450,960 | €1,441,172 | -€9,788 | -0.7% |
| Financial debts | 170/4 | €1,450,960 | €1,441,172 | -€9,788 | -0.7% |
| Amounts payable within one year | 42/48 | €389,147 | €558,113 | +€168,965 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | €30,915 | €43,396 | +€12,481 | +40.4% |
| Financial debts | 43 | €325,000 | €325,000 | = | 0.0% |
| Credit institutions | 430/8 | €325,000 | €325,000 | = | 0.0% |
| Trade debts | 44 | €7,984 | €1,293 | -€6,692 | -83.8% |
| Suppliers | 440/4 | €7,984 | €1,293 | -€6,692 | -83.8% |
| Taxes, remuneration and social security | 45 | €13,190 | €14,586 | +€1,396 | +10.6% |
| Taxes | 450/3 | €13,022 | €14,586 | +€1,564 | +12.0% |
| Remuneration and social security | 454/9 | €168 | - | -€168 | |
| Other amounts payable | 47/48 | €12,058 | €173,838 | +€161,780 | +1,342% |
| Accrued charges and deferred income | 492/3 | €1,552 | €3,064 | +€1,512 | +97.4% |
| Non-recurring operating income | 76A | - | €14,876 | +€14,876 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,227 | €60,343 | +€115 | +0.2% |
| Other operating charges | 640/8 | €27,126 | €28,761 | +€1,635 | +6.0% |
| Gross operating margin | 9900 | €155,720 | €180,678 | +€24,958 | +16.0% |
| Operating profit (loss) | 9901 | €68,367 | €91,575 | +€23,208 | +33.9% |
| Financial income | 75/76B | €14,826 | €9,242 | -€5,583 | -37.7% |
| Recurring financial income | 75 | €14,826 | €9,242 | -€5,583 | -37.7% |
| Financial charges | 65/66B | €23,747 | €19,152 | -€4,594 | -19.3% |
| Recurring financial charges | 65 | €23,747 | €19,152 | -€4,594 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €59,446 | €81,664 | +€22,219 | +37.4% |
| Income taxes | 67/77 | €412 | €425 | +€13 | +3.3% |
| Profit (loss) for the period | 9904 | €59,034 | €81,239 | +€22,205 | +37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,034 | €81,239 | +€22,205 | +37.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.